Green electricity and Renewable Energy Guarantees of Origin demand analysis for Turkiye

Environmental awareness has increased the demand for green electricity, which is the electricity generated entirely from renewable energy sources. Green electricity is currently documented and tracked using energy attribute certificates. Before setting regulations and establishing the energy certificate system infrastructure, it is critical to analyze the demand and market value of the certificates and green electricity. This study aims to determine the demand for green electricity and the certificates, calculate the financial return of the certificates to renewable energy investors, and analyze the market value of the certificates for Turkiye. In the study, separate surveys were conducted to corporate consumers, electricity producers, and electricity suppliers to analyze their tendencies toward green electricity and the certificates. The analyses of the 348 survey responses indicate that 96% of corporate companies would prefer to use green electricity over standard electricity, and 20% stated that they would pay higher prices for green electricity than standard electricity. The economic analyses conducted within the study indicate that the certified green electricity supply could correspond to 63% of the total renewable energy sources-based electricity generation in 2020 (73.7 TWh). This amount would provide _59 million yearly additional income to renewable energy investors.

Automated summary

This study aims to analyze the demand and market value for green electricity and energy attribute certificates in Turkey. The results indicate that corporate companies are more inclined to choose green electricity and are willing to pay a higher price for it. The study also shows that certified green electricity supply can provide renewable energy investors with long-term stable additional income.